TotalEnergies to start-up production at Fenix Offshore Gas Field in Argentina.
Takeaway Points
- TotalEnergies to Start Up Production at Fenix Offshore Gas Field in Argentina.
- Fenix has a production capacity of 10 million cubic meters per day (70,000 boe/d).
- On Sept 19, 2024, TotalEnergies will supply 1.25 million tons per year to CNOOC until 2034.
TotalEnergies Start Up Production at Fenix
TotalEnergies on Friday announced the start of production from the Fenix gas field, located 60 km off the coast of Tierra del Fuego in southern Argentina.
The Fenix field is part of the Cuenca Marina Austral 1 (CMA-1) concession, in which TotalEnergies holds a 37.5 percent operated interest, alongside its partners Harbour Energy (37.5%) and Pan American Energy (25%), the company said.
Javier Rielo, Senior Vice President Americas, Exploration & Production at TotalEnergies, said, “The start-up of Fenix production safely and ahead of schedule, only two years after FID, demonstrates the capacity of our Company to deliver its projects. Fenix will contribute to maintaining our gas production plateau in Tierra del Fuego and ensure a reliable supply to the Argentinean gas market. With its low break-even and low carbon intensity, Fenix perfectly matches the Company’s low-cost and low-emission strategy.”
According to Total Energies, Fenix is a low-cost, low-emissions development with a carbon intensity of 9 kg CO2e/boe, leveraging on the existing infrastructure. Fenix has a production capacity of 10 million cubic meters per day (70,000 b/d).
TotalEnergies will supply 1.25 million tons per year to CNOOC until 2034.
On Sept 19, 2024, TotalEnergies announced a 5-year extension of its sales and purchase agreement (SPA) with CNOOC for the delivery of 1.25 million tons of LNG per year to China until 2034.
Gregory Joffroy, Senior Vice President, LNG at TotalEnergies, commented, “We are pleased to strengthen our ties with CNOOC, a key partner for the Company in the world’s largest LNG importing country. This agreement allows us to continue securing long-term sales in Asia and reduce our exposure to spot market gas prices,”
TotalEnergies in Argentina
TotalEnergies has been operating in Argentina since 1978, and today employs more than 1,100 people in its business segments, in Exploration & Production, renewable electricity (solar and wind), and lubricants. Through its Total Austral affiliate, it is the country’s leading international gas producer, operating some 25% of production. The Company’s equity share of production averaged 88,000 barrels of oil equivalent per day in 2023. In Tierra del Fuego, alongside partners Harbour Energy (37.5%) and Pan American Sur (25%), TotalEnergies (37.5%) operates the Cuenca Marina Austral 1 (CMA-1) concession, which includes onshore fields and 6 offshore platforms.In Neuquen, the Company holds equity interests in five onshore blocks, spanning more than 235,000 net acres, all operated. Across the country, TotalEnergies operates 3 wind farms and 1 solar plant, with an installed capacity of approximately 300 MW.
About TotalEnergies
TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.
